In the other topic of a similar name there are lots of posts about how people started out on a small single wage and worked their way up the property ladder and how many can afford to buy now but refuse to.

This got me thinking and the next logical question for me then is will our kids have the same opportunities our grandparents, parents and we did. Or will our kids require

In the other topic of a similar name there are lots of posts about how people started out on a small single wage and worked their way up the property ladder and how many can afford to buy now but refuse to.

This got me thinking and the next logical question for me then is will our kids have the same opportunities our grandparents, parents and we did. Or will our kids require

Basically everything we and generations before us managed to do without.

Is it possible?

Good question. A question that is part of my personal reason for being on the sidelines regarding buying property. We've got about 500k in savings to put towards a house, so even in Sydney we're not totally priced out. We're probably in the same boat as many up-graders. However, without a good deposit we'd have no hope in hell of buying a house even with a good salary. I don't know how people manage now. Either things will have to change - a crash or slow deflation - something that brings houses back in line with wages or there is no way my children will be home owners in this country. Personally, I hate to think I'd be encouraging my 20 year old to knuckle down to save money for their first crappy house, just to get onto the property ladder. I want them to have the opportunity to study, travel, enjoy life. But even that wouldn't be the way into property ownership if house prices run further from incomes.

YES. Without going into too much detail, it is very likely that they will be true home owners, not a mortgage holder as most are today. Our outright ownership rates have dropped dramatically over the last 30 years and that will be reversed.

Please stop calling mortgage holders as home owners. They are not. Home owners are the outright owners only.

Mortgage holders do not hold the title unencumbered, simple as that!

There will be a day when you look around an average suburb and the houses will be full of the young again. Just not soon as it will take the great death of 2030 to 2050 transpires, as the BB all die. It is likely that 6 million will die or twice our current deaths per year in 2010.

Please do not buy until 2020.

Rent, save, invest and get a 100% deposit together. The investing will help build a real country, not a house full of straw.

yes they will. who will own the houses if our children do not? a constant influx of cashed up overseas investors? i doubt it. It is logical that housing will be freed up when the bb's move on and likewise when we move on. prices cannot and will not continue to rise for ever and a day.

I do hope you offer up your head on a plate to those who may be fucked over by your advise.

Agreed, the next up cycle in prices is ratcheting up. NOW is the time to buy.

THERE IS NO CRASH IN SIGHT!

BP, you love the phrase "up-cycle"

Just to be clear, what constitutes an up-cycle to you? Nominal growth of 4%, 5%, 7%, 10%, 10%+??

I cannot for the life of me see how "now is the time to buy". If from that, I take it you are assuming say 7% plus growth, then a good few of these things needs to happen:

1) Credit to continue growing yet further despite Aus having amonst the highest private debt levels on the planet.2) To achieve 1, lending standards to sink to new lows, when they are already lax compared to just about anywhere (pls show me different if you can). And this to work i.e. enough people to be lured into mortgages they should not take3) A favourable economic outlook, which BTW would then lead to IR rises4) Decent pop growth, which at the mo is not happening5) Existing stock on the market to get cleared (prob depends on location)6) Banks to solve their funding problems esp rolling over current overseas funding at low rates (which are not available anymore)

My view is now is "not the time to buy" because I dont think many of these will come to pass.

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